Tezos Staking FAQ
Everything you need to know about Staking Tezos inside of your Exodus wallet.
In this Article:
- What is Tezos Staking and how can I benefit from it?
- What actually happens when I stake my Tezos?
- Can I choose the amount I want to stake and is my balance spendable while it's staked?
- Which baker will I be delegating my funds to?
- How much can I earn from staking my Tezos?
- What is the minimum amount I need to start staking?
- Does Exodus charge a fee to Stake my Tezos?
- When will I start earning rewards?
- Is staking Tezos safe?
- How do I Stake/Unstake my Tezos inside of Exodus?
What is Tezos Staking and how can I benefit from it?
Staking Tezos tokens is a great way to earn passive Tezos income. You can view it as earning interest on your crypto holdings. With some assets, staking means you agree to lock up your tokens for a certain period of time, during which they are unspendable. However, this is not the case with Tezos. You can spend your Tezos whenever you choose.
By Staking your Tezos, you actively support the Tezos network by allocating resources to it and contribute to the stability of the Tezos network. In return for your support, you earn Tezos tokens as a reward.
What actually happens when I Stake my Tezos?
In order to stake your tokens, what you are really doing is delegating your XTZ address (and the tokens your address holds) to a so-called "baker". The Tezos bakers validate and approve transactions on the Tezos blockchain. The more tokens that are delegated to them, the more transactions they get to validate and the more powerful they become. By delegating your tokens to them, you basically "vote" for and signal your trust in them.
The more transactions a baker validates, the more money they earn. From the earned rewards, they give back to all the people who delegated their tokens to them. This is how you earn your interest.
Can I choose the amount I want to Stake and is my balance spendable while it's Staked?
When you Stake your Tezos, you are actually staking your Tezos address. This means you can't choose how much to delegate to the baker. It is all of your Tezos balance or nothing, as you are delegating your address to the baker. You can still perform normal transactions whilst your Tezos is Staked. When it is time to receive your rewards, a snapshot will be taken and your current balance at that time will be used to calculate your reward.
Which baker will I be delegating my funds to?
When you Stake your Tezos inside of Exodus, you will be supporting our partner Everstake.
If you would like to keep up with how Everstake is going to vote, you can see their latest news by checking out their blog.
How much can I earn from Staking my Tezos?
If you choose to Stake your Tezos, you can expect to earn around 5% per year of the Staked amount. However, this amount can change with time but you can find the latest yield here: Tezos Staking Rewards
What is the minimum amount I need to start staking?
The required minimum is only 1 XTZ.
Does Exodus charge a fee to Stake my Tezos?
There are only two fees involved with Staking your Tezos. One fee is a transaction fee cost of 0.00284 XTZ. The other fee is called a baker fee. The baker fee is an operation fee, and this means that if you Stake your Tezos inside of your Exodus wallet, Everstake will take an 8% operational fee, this means you will receive 92% of the generated rewards.
When will I start earning rewards?
When you decide to start staking your Tezos, you will initially need to wait 35 days to be approved. This will only happen the first time you decide to start staking your Tezos.
After this 35 day period you will start to earn rewards every 3 days.
What this means is that the first time you start to stake your Tezos, you will need to wait 35 days for approval and then another 3 days for the first cycle to complete. So you will get your first reward 38 days after clicking Start Staking and then every 3 days after this.
You will be able to see how long you have been staking within the Tezos wallet.
Please note: Your first rewards are paid with a 35 day delay. You will receive rewards every 3 day cycle from this point. However your reward for each 3 day cycle will be calculated for your XTZ balance 35 days ago from the current cycle.
Is staking Tezos safe?
Staking your Tezos tokens is done in a non-custodial way in Exodus. That means that it is as safe as simply holding them in your wallet. You keep full control over your tokens while they are staked and you're even free to use your funds and move them around while they are staked.
So instead of letting them sit idly in your wallet, you might as well put them to good use and let them earn rewards for you!
How do I Stake/Unstake my Tezos inside of Exodus?
Staking in Exodus is super easy! All you have to do is click on the three dots in the top right of your Tezos wallet, then click on Earn Rewards:
Then simply click on the button Start Earning Tezos:
If you change your mind you can unstake your XTZ anytime. In order to do that, simply open the Earn Rewards section again:
Then click the button Unstake Tezos:
Staking in Exodus is super easy, please follow the steps below:
First open your Tezos wallet inside of Exodus on your mobile, now tap on the Earn Rewards icon in the top right corner.
- To start delegating your Tezos just tap on Start Earning Tezos.
- After a short amount of time you will see that you have successfully staked your Tezos.
If you change your mind you can unstake your Tezos tokens anytime. In order to do that please follow the steps below:
- First open your Tezos wallet inside of Exodus on your mobile, now tap on the Earn Rewards icon in the top right corner.
- To stop delegating your Tezos just tap on Unstake Tezos.
- After a short amount of time you will see that you have successfully unstaked your Tezos.